Globalization critics argue that the decline in unskilled wage rates is due to the.

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02-09-2022
Social Studies

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Globalization critics argue that the decline in unskilled wage rates is due to the.

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RajarshiG RajarshiG · Answer 1 · 2022-09-06T00:38:54-04:00

"Globalization critics argue that the decline in unskilled wage rates is due to the migration of low-wage manufacturing jobs and a corresponding reduction in demand for unskilled or low-skilled workers."

"Globalization have been associated with both rising living standards and a decline in income distribution in advanced countries. Low-skilled workers' wages have remained flat or even declined, while high-skilled workers' wages have increased sharply.

Theories suggests that international trade affects the prices of products in both exporting and importing countries. This in turn negatively affects the price of labor which means the wages within countries by influencing the demand for labor."

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